Along with rapid technological advancements, matters of environmental and social importance are continuing to shape sectors across the financial services space. In this latest quarterly outlook for the industry, we examine how banks can tap into new opportunities by catering to historically underserved communities, what growing attention on clean energy and small business equity means for specialty finance lenders, and how climate change-related risks are affecting insurers.
We also assess how asset managers are ramping up pressure around environmental, social and governance initiatives but are also feeling this pressure themselves, and the role smart contracts are playing in reshaping capital markets.
“Players in the financial services space have an opportunity to be more intentional in seeking out ways where innovation, customer experience and new technologies can help them adapt to evolving priorities, including ESG and focusing on underserved customers and communities,” says Peter Brady, national financial services industry leader at RSM.